International and Offshore Banking Resources in Miami
A directory of international banks, private-banking institutions and cross-border financial specialists serving South Florida.
```Miami has developed into one of the leading international financial centers in the United States. Its position as a commercial gateway between North America, Latin America, the Caribbean and Europe has attracted foreign banks, private-wealth divisions, family offices, investment advisers, international tax attorneys and cross-border financial professionals.
The term offshore banking is frequently used to describe banking or investment relationships maintained outside a client’s country of residence. However, many institutions operating in Miami are not technically offshore banks. They may be federally or state-chartered American banks, United States branches or agencies of foreign banks, representative offices, broker-dealers, investment advisers or international private-banking divisions.
International and Private Banks in Miami
Banco Santander International
Banco Santander International operates from Brickell and provides private-banking and wealth-management services for high-net-worth and international clients. Its Miami operation is particularly active among families and business owners with financial interests in the United States, Latin America and Europe.
Miami office: 830 Brickell Plaza, Miami, Florida 33131
Visit Banco Santander International
Bradesco Bank
Bradesco Bank is the United States banking subsidiary of Brazil’s Banco Bradesco. Headquartered in South Florida, it serves United States residents, international clients and nonresident customers through personal banking, private banking, lending and investment-related services.
Itaú Private Bank
Itaú maintains an established private-banking presence in Miami serving affluent families, entrepreneurs and international investors. Its wider private-banking network includes operations in the United States, Switzerland and The Bahamas, making it an important institution for clients with cross-border financial interests.
Miami office: 200 South Biscayne Boulevard, Miami, Florida 33131
Visit Itaú Private Bank
Safra National Bank
Safra National Bank is known for private banking, wealth management and services for high-net-worth and ultra-high-net-worth individuals, families and businesses. As part of the international J. Safra Group, the bank can draw upon a global network with a long history in private banking.
Miami office: 1221 Brickell Avenue, Miami, Florida 33131
Additional South Florida offices: Aventura and Palm Beach
Visit Safra National Bank
UBS International
UBS maintains international and private-wealth operations in Miami and Coral Gables. Its Miami advisers work with domestic and internationally mobile clients on investment management, portfolio construction, wealth planning, financing strategies and multigenerational financial objectives.
In the United States, wealth-management services are generally provided through UBS Financial Services Inc., a registered broker-dealer and investment adviser, rather than through a conventional offshore deposit account.
Miami office: 100 Southeast Second Street, Miami, Florida 33131
Visit UBS Florida Wealth Management
Banco de Crédito del Perú Miami Agency
Banco de Crédito del Perú has maintained a Miami-area agency serving institutional, commercial and international clients. Its presence in Coral Gables reflects Miami’s longstanding role as a financial center for Peruvian and Latin American commerce.
Location: Coral Gables, Florida
Visit Banco de Crédito del Perú
Banco Internacional de Costa Rica
Banco Internacional de Costa Rica, commonly known as BICSA, has operated a banking agency in the Coral Gables area. The institution focuses primarily on corporate banking, trade finance, commercial lending and financial activity connecting Central America with the United States.
Banco de Crédito e Inversiones
Chile-based Banco de Crédito e Inversiones, commonly known as BCI, has maintained a regulated Miami presence. Through its wider United States operations and ownership of City National Bank of Florida, the BCI financial group has become an important participant in South Florida banking and international commerce.
Banco do Brasil
Banco do Brasil has a long history of conducting international banking activities in the United States and serving Brazilian businesses, investors and commercial clients. Prospective customers should confirm directly with the bank which Miami services are currently available and whether a particular service is provided through a branch, agency, affiliate or another United States office.
Banesco USA
Banesco USA is a Florida-chartered community bank with strong experience serving local and international business owners, real estate investors and professionals. Although it is an American bank rather than an offshore institution, its multicultural staff and South Florida presence can make it relevant to clients with cross-border banking requirements.
Amerant Bank
Amerant Bank is a United States bank headquartered in Coral Gables with extensive experience serving individuals and companies connected to Latin America. Services include private banking, commercial banking, treasury management, mortgages and wealth-management solutions.
City National Bank of Florida
City National Bank of Florida is a Miami-based bank owned by the BCI financial group of Chile. It provides private-client, commercial, real estate, corporate and wealth-management services. Its international ownership and substantial South Florida presence make it a notable resource for globally connected clients, even though accounts are maintained through a United States bank.
Cross-Border Financial and Legal Specialists
International banking should normally be coordinated with qualified legal, accounting, tax and investment professionals. The following South Florida professionals and firms maintain practices involving international tax law, private wealth, foreign accounts, trusts, estate planning or cross-border transactions.
Kevin E. Packman — Holland & Knight
Miami attorney Kevin Packman advises high-net-worth domestic and international clients on international estate planning, private wealth, offshore tax compliance, foreign-account reporting, trusts, expatriation and pre-immigration planning.
Rahul P. Ranadive — Carlton Fields
Rahul Ranadive advises international high-net-worth families on global estate and trust planning, private banking, family-business succession and domestic and international tax matters.
Michael C. Vandormael — Carlton Fields
Miami-based attorney Michael Vandormael represents United States and non-United States families in international taxation, tax compliance, trusts and estates, probate and business planning.
Patrick J. Lannon — Shutts & Bowen
Patrick Lannon represents domestic and international high-net-worth individuals in estate planning, asset-protection planning, wealth preservation and charitable planning.
Andrés José Hernández Lossada — Shutts & Bowen
Andrés Hernández Lossada focuses on international taxation, cross-border wealth planning, estate planning, mergers and acquisitions and general corporate matters.
The Miami Tax Lawyer
This Miami-based tax practice advertises services involving international tax planning, foreign-income reporting, offshore-account disclosures, treaty matters, global structuring and expatriate tax compliance.
Akerman — International Tax Practice
Akerman’s tax attorneys advise businesses, investors and private clients on international tax planning, inbound and outbound investments, corporate transactions, tax controversies and cross-border business structures. The firm maintains a major Miami office at Brickell City Centre.
Shutts & Bowen — International Private Client Services
Shutts & Bowen advises high-net-worth individuals, cross-border families, closely held companies and family businesses on international taxation, estate planning, wealth transfers, trusts and private-client matters.
Selecting an International Banking Institution
Before opening an international or foreign account, prospective clients should determine:
- Whether the institution is a licensed bank, branch, agency, representative office, broker-dealer or investment adviser.
- Which government agency regulates the institution and the particular account being offered.
- Whether deposits qualify for FDIC insurance or another national deposit-protection program.
- Whether the institution accepts United States citizens, residents or businesses.
- The minimum account size, custody fees, investment fees and foreign-exchange costs.
- The legal jurisdiction governing the account and the procedure for resolving disputes.
- Applicable United States tax reporting, withholding and disclosure obligations.
United States Reporting Requirements
Maintaining a foreign account is not inherently illegal. However, United States citizens, residents and other United States taxpayers are generally subject to extensive reporting requirements concerning foreign financial accounts, foreign trusts, foreign corporations and certain overseas investments.
Depending upon the circumstances, filings may include the Foreign Bank Account Report, commonly called the FBAR; Form 8938 under the Foreign Account Tax Compliance Act; and additional forms involving foreign trusts, companies, partnerships, gifts or passive foreign investment companies.
Important Notice About the Previous Directory
Earlier versions of this directory included institutions such as FBME Bank, Banque Audi, National Bank of Abu Dhabi, Bank of Tokyo-Mitsubishi UFJ, Banca Privada d’Andorra, Crèdit Andorrà, Jyske Bank, Bank of Valletta, Finansbank, HSBC and several other foreign institutions.
Those names have not automatically been carried forward because some institutions have closed, merged, changed ownership, changed names, withdrawn from particular markets or no longer maintain a publicly confirmed Miami banking office. For example, National Bank of Abu Dhabi became part of First Abu Dhabi Bank, while Bank of Tokyo-Mitsubishi UFJ was renamed MUFG Bank.
Banking licenses, office classifications and client-acceptance policies can change. Readers should verify an institution through the Federal Reserve’s National Information Center, the Federal Deposit Insurance Corporation, the Office of the Comptroller of the Currency, the Florida Office of Financial Regulation, FINRA BrokerCheck or the SEC Investment Adviser Public Disclosure database before transferring funds.